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Smith and Jones are the only competing suppliers of communication services in their community. At present, Smith's share is 45% share of the market, and
Smith and Jones are the only competing suppliers of communication services in their community. At present, Smith's share is 45% share of the market, and Jones' share is 55%. However, Smith has recently upgraded his service, and a survey indicates that from one month to the next, 80% of Smith's customers remain loyal, while 20% switch to Jones. On the other hand, 60% of Jone's customers remain loyal, and 40% switch to Smith. If this goes on for five quarters (i.e. 15 months), how large are their market shares? In 15 months, Smith's share is % of the customers, and Jones' share is _% of the customers. (Round to the nearest whole numbers as needed.) Solve the problem in details. Show your work neatly. Write in big fonts
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